Government lobbies private sector for mining investment

The Namibian government will continue to lobby the private sector for investment in the mining sector.

The Minister of Mines and Energy, Tom Alweendo, says this is because of the risk factors involved and the capital required.

Addressing the two-day Mining Expo and Conference in Windhoek, Alweendo said mine exploration alone costs hundreds of millions of dollars, something the state cannot afford.

And exploration alone does not guarantee any return on investment.

Alweendo says Namibian resources need to benefit Namibians

Mines and Energy Minister Tom Alweendo has reiterated that all natural resources belong to Namibians and need to be harnessed in order to benefit all.

Alweendo said this during an open discussion on the discovery of oil and gas in the ||Kharas Region.

Alweendo was responding to questions and comments during the meeting with regional leaders, traditional authorities, captains of industry, and the general public on the discovery of nearly 500 million barrels of oil in the region.

Namibian government supports local investors participation in the Energy sector

The Namibian government will continue to encourage and support local investors to actively participate in the energy sector.

This was reiterated by the Minister of Mines and Energy, Tom Alweendo, at an information-sharing session at Keetmanshoop on the discovery of oil in the ||Kharas Region.

Alweendo says the discovery of oil offshore the Namibian southern coast—estimated at between 300 and 400 million barrels—and its successful development hold direct and indirect benefits for Namibians.

LPM leader appeals to Alweendo to prosecute Xinfeng Investment

Landless People's Movement (LPM) Leader Bernadus Swaartbooi has appealed to the Mines and Energy Minister to consider criminal prosecution against Xinfeng Investment and the Environmental Commissioner over the alleged illegal mining operations near Uis. 

Swaartbooi says if Minister Tom Alweendo's investigation into the allegations reveals that there has been falsification of documents or a breach of law, then the two parties must be prosecuted. 

Namibians should have local ownership of investment in mining and petroleum sectors- Alweendo

The Minister of Mines and Energy, Tom Alweendo, says there is a need to create an environment where Namibians can have local ownership of investment in the mining and petroleum sectors.

Alweendo was speaking at the Debmarine Stakeholder Breakfast Meeting in Windhoek today.

He explained that in order for Namibians to benefit economically from these sectors, it is necessary to first determine where the resources are located (exploration).

Diesel prices to increase this Wednesday

As the international oil market continues to have a huge fall in oil demand, diesel prices are expected to increase on Wednesday by 198 cents per litre.

It is, however, a relief for petrol users as prices remain unchanged.

The new prices in Walvis Bay will be N$24.10 per litre for diesel and, as for the rest of the country, they will be adjusted accordingly.

The depreciation of the Namibian dollar against the US dollar as of now will cause negative effects on the pockets of fuel consumers.